Estate Planning

Health Care Directive

A Health Care Directive helps you communicate your wishes as to medical care, should you become terminally ill, incompetent or otherwise unable to participate in medical care decisions.

Living Trust

A Living Trust is a Trust which is created during your lifetime when you as the grantor, transfer your assets into a Trust to be administered by a Trustee.  A Living Trust can avoid probate should you transfer all of your property into it.  However, the cost of establishing and maintaining a Living Trust, may be greater than any financial savings gained by avoiding Probate.  Consult legal counsel to determine whether a Living Trust would benefit you.  A Living Trust does not avoid litigation between your beneficiaries but only changes the forum for these contests from Probate Court to District Court. (Lawsuits in District Court are normally open to the public.)

Will

A Will is a document which governs the disposition of your probate property after your death.  A will can be changed at any time until you become incompetent or pass away.  Further, a Will does not affect the use of your property during your life.

Affidavit of Survivorship

An Affidavit of Survivorship is filed with the County Recorder's Office, along with a Certified copy of a decedent's Death Certificate to transfer a decedent's joint tenancy interest or life estate interest in real property.  This Affidavit should be prepared by a lawyer.  The approximate charge for obtaining a Certified copy of a decedent's Death Certificate is $11.00 and the recording fee for an Affidavit of Survivorship is presently $19.50.

Joint Tenancy Deeds

A joint tenancy deed (either a Quit Claim Deed or a Warranty Deed) transfers real estate to the Grantees creating a joint tenancy between the Grantees.  When one of the "joint tenant owners" passes away, the real estate passes directly to the surviving joint tenant(s) without a probate proceeding (and upon the filing of an Affidavit of Survivorship).

Life Estate Ownership of Real Estate

Life Estate Ownership of real estate allows the holder of the life estate interest to possess the real estate property during the term of his/her natural life.  Upon the death of the holder of the life estate interest, the real estate passes to the remainderman(men) without a probate proceeding (and upon the filing of an Affidavit of Survivorship).

Probate

Probate is a judicial proceeding which allows a judge to transfer the ownership of assets from your name to those of your beneficiaries after your death.  Generally, probate may be avoided through a number of methods, including joint ownership as Joint Tenants between yourself and your spouse or other beneficiaries.

Selection of Guardian

Minn. Stat., Section 525.54 allows you to name, in advance, the individual(s) you want to serve as your guardian(s) should you later become incapacitated.

What is Medical Assistance?

Medical Assistance ("MA") is a Federal/State/County program which assists eligible citizens in paying for the cost of long-term nursing care.

MA Estate Planning Examples

Re-Allocating income to the "at-home" spouse, asset transfer to the "at- home" spouse, purchasing appropriate assets and long-term care insurance may be appropriate in your case.

MA Information

Anoka County Financial Services Department ..............................................(763) 422.7270

Chisago County Human Services ................................................................(651) 213.0324

Hennepin County Community Services - Elderly & Disabled Assistance Information & Intake .................................................................................................................(612) 879.3030

Isanti County Family Services and Welfare Department..................................(763) 689.1711

Ramsey County Community Human Services................................................(651) 266.4444

Washington County Community Social Services Economic Assistance...........(651) 430.6459

Consult legal counsel to determine the applicability of the information in this website to your circumstances.  The information contained in this website is not intended to provide legal advice to you and you should not rely on this information other than to obtain a general understanding of the concepts and terms discussed.

Please call Montzka Legal Services at (651) 462-4200 should you have any questions.